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Internet Banking: Features, Advantages and Uses

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I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :19/09/2021

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

CIBIL TERMS AND
CONDITIONS

To,
TransUnion CIBIL Limited
[Formerly known as Credit Information Bureau (India) Limited]
One Indiabulls building ,Unit No 1901 – 1905,
19th Floor, Tower 2A-2B, Jupiter Mill compound,
Senapati Bapat Marg, Lower Parel, Mumbai 400 013

Sub: Grant of Consent

Dear Sirs,

In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Paisabazaar (referred to as the “Company”) and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:

A. The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.

B. I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.

C. I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.

D. I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL

E. I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company.

F. I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Paisabazaar authorizing Paisabazaar to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Paisabazaar to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Paisabazaar to obtain my Consumer Credit Information.

G. I understand that in order to deliver the product to me, I hereby authorize Paisabazaar, to obtain my Consumer Credit Information from TUCL.

H. By submitting this registration form, I understand that I am providing an express adhoc one-time written instructions for Paisabazaar to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Paisabazaar account. I further authorize Paisabazaar to retain a copy of my information for use in accordance with the terms of use of this service, Paisabazaar’s Terms of Use and Privacy Policy.

I. I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

J. I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Company . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.

K. I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.

Yours faithfully,
Name :

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :19/09/2021

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

EQUIFAX TERMS AND
CONDITIONS

I Mr./Ms. -------------------- ---------------------residing at ------------------------ ---------------------------------------- do hereby authorise Paisabazaar Team ,to do all acts on my behalf as may be necessary including to execute/sign application(s), make payment of applicable fees* and generally to all other acts as may be necessary to receive, on my behalf and at my request, my Credit Information Report (CIR) from Equifax Credit Information Services Private Limited("Equifax") at the following address/email id:

I hereby confirm that all the powers hereby conferred may be exercised by officer(s) or manager(s) / agent(s) / employees of the Paisabazaar who is duly authorized by the Paisabazaar.

I hereby confirm, agree, undertake and accept that I shall at all times be solely responsible for all the above actions and omissions of the Paisabazaar shall be binding on me as though such actions had been carried out by me directly. I further confirm that my CIR shall be used only for the purpose as mentioned in the attached standard terms and conditions and I shall be solely liable for, and indemnify and hold harmless Equifax for and against, any and all third party claims or damages or proceedings of any kind, arising from or in connection with (a) any misrepresentations, incorrect information or omission of any critical information in my application, or (b) furnishing my CIR based on this authorization letter, and shall not at any time hold Equifax or its affiliates and their respective officers, directors, employees or representatives liable in this respect.

I hereby also confirm that I have only appointed Paisabazaar to be my authorized agent/representative for collection of my CIR.

I undertake to keep Equifax intimated and informed at all times, of any renewals or termination of the authorization to Paisabazaar or any amendments, modifications or changes in the terms governing the obligations or my relationship with Paisabazaar.

I shall at all times co-operate with Equifax and execute and deliver to Equifax such instruments and documents and take such other actions as may be required by Equifax from time to time in connection with this authority letter.

By signing on this authorization letter, I hereby acknowledge and accept the Standard Terms and Conditions mentioned above.

Date : 19/09/2021

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :19/09/2021

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

EXPERIAN TERMS AND
CONDITIONS

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM EXPERIAN.

YOU HEREBY IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY EXPERIAN TO YOU AND PAISABAZAAR AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU HEREBY ALSO AGREE AND ACKNOWLEDGE THAT FOR PAISABAZAAR TO SERVICE YOU AS A CUSTOMER, THE CREDIT INFORMATION SHALL BE SHARED BY EXPERIAN WITH YOU AND PAISABAZAAR ON A MONTHLY BASIS. YOU FURTHER ALSO AGREE AND CONSENT TO RECEIVE SUCH CREDIT INFORMATION DIRECTLY FROM EXPERIAN AND ALSO THROUGH YOUR PAISABAZAAR ACCOUNT AS PER YOUR INDEPENDENT REGISTRATION WITH PAISABAZAAR.

Please read the Terms and Conditions of this document carefully before accepting. By clicking on the "I ACCEPT" button below, you are expressly agreeing to access the Experian Credit Information Report and Credit Score (as defined in the Important Information Section below) (together referred as "Credit Information") and share a copy of the Credit Information with Paisabazaar in the "as is" format. Please click on the link below to read and understand the Important Information section below.

** This document is an electronic record in terms of the Information Technology Act, 2000 and Rules made there under, and the amended provisions pertaining to electronic records.

Information Collection, Use, Confidentiality, No-Disclosure and Data Purging

PAISABAZAAR/ We/ Us can only access your Credit Information as your authorized representative and we shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from us on the Website. We shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

We shall protect and keep confidential the Credit information both online and offline and use best in class security measures in line with applicable laws. The Credit Information shared by You, or received on your behalf shall be destroyed, purged, erased promptly upon the earlier of: (i) your written request to terminate this relationship with Paisabazaar (ii) the completion of provision of the Services by us to you.

Governing Law and Jurisdiction The relationship between you and the Parties shall be governed by laws of India and all claims or disputes arising there from shall be subject to the exclusive jurisdiction of the courts of [Mumbai].

Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
"Credit Information Report" means the credit information / scores / aggregates / variables or reports which shall be generated by Experian;
"Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by Experian.
"CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
PLEASE READ THE ABOVE MENTIONED IMPORTANT INFORMATION AND CLICK ON "ACCEPT" FOLLOWED BY THE LINK BELOW TO COMPLETE THE AUTHORISATION PROCESS FOR SHARING OF YOUR CREDIT INFORMATION BY EXPERIAN WITH YOU AND PAISABAZAAR, IN ITS CAPACITY AS YOUR AUTHORISED REPRESENTATIVE.
BY CLICKING "ACCEPT" YOU AGREE AND ACCEPT THE DISCLAIMERS AND TERMS AND CONDITIONS SET OUT HEREIN. THE TERMS AND CONDITIONS MENTIONED HEREIN MAY CHANGE IN ORDER TO COMPLY WITH GOVERNING LAWS OF THE COUNTRY AND THE CONSUMER SHALL BE BOUND TO ANY CHANGES TO THIS AGREEMENT

Name :
Date : 19/09/2021

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :19/09/2021

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

CRIF HIGH MARK TERMS
AND CONDITIONS

This End User Agreement (the "Agreement") is made between you (the "User" or "You") and Paisabazaar Marketing and Consulting Pvt Ltd ("PaisaBazaar"), a private limited company having its registered office at Plot No 119, Sector-44, Gurgaon-122001, Haryana ("PAISABAZAAR", "Us" or "We", which term shall include its successors and permitted assigns). The User and PAISABAZAAR shall be collectively referred to as the "Parties" and individually as a "Party".

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM CRIF HIGH MARK. BY EXECUTING THIS AGREEMENT / CONSENT FORM, YOU ARE EXPRESSLY AGREEING TO ACCESS THE CRIF HIGH MARK CREDIT INFORMATION REPORT AND CREDIT SCORE, AGGREGATE SCORES, INFERENCES, REFERENCES AND DETAILS (AS DEFINED BELOW)(TOGETHER REFERRED AS "CREDIT INFORMATION"). YOU HEREBY ALSO IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY CRIF HIGH MARK TO YOU AND PAISABAZAAR BY USING CRIF HIGH MARK TOOLS, ALGORITHMS AND DEVICES AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU ALSO ACKNOWLEDGE THAT YOU SHALL NOT RAISE ANY CLAIM OR HOLD LIABLE CRIF HIGH MARK CREDIT INFORMATION SERVICES PRIVATE LIMITED IN RELATION TO YOUR CREDIT INFORMATION REPORT AND CREDIT SCORE PROVIDED OR TO BE PROVIDED BY CRIF HIGH MARK TO PAISABAZAAR.

Terms and Conditions: Information Collection, Use, Confidentiality, No-Disclosure and Data Purging PAISABAZAAR shall access your Credit Information as your authorized representative and PAISABAZAAR shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from PAISABAZAAR. PAISABAZAAR shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

The Parties agree to protect and keep confidential the Credit Information both online and offline. The Credit Information shared by you, or received on by us on your behalf shall be destroyed, purged, erased promptly upon request from the consumer or the consumer withdrawing the consent to retain such credit information / reports by deleting/deactivating the consumers account with Paisabazaar.

Governing Law and Jurisdiction Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
" Business Day" means a day (other than a public holiday) on which banks are open for general business in Gurgaon and Mumbai.
" Credit Information Report" means the credit information / scores/ aggregates / variables / inferences or reports which shall be generated by CRIF High Mark;
" Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by CRIF High Mark.
" CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
IN CASE THERE IS ANY DISCREPANCY OR INABILITY IN COMPLETION OF ONLINE AUTHENTICATION, PLEASE SUBMIT YOUR SELF ATTESTED KYC DOCUMENTATION IN SCANNED COPIES FOR SHARING OF YOUR CREDIT INFORMATION BY CRIF HIGH MARK WITH YOU AND PAISABAZAAR (YOUR AUTHORISED REPRESENTATIVE).
ONLINE SUBMISSION - DOES NOT REQUIRE SIGNATURE AND EXECUTION"

Name :
Date :19/09/2021

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हिंदी में पढ़े
Updated: 16-08-2021 10:00:29 AM

After demonetisation in 2016, digital banking has grown at a faster pace. Most of the Indian banks have launched their internet banking and mobile banking websites to facilitate the customers with online availability of almost all banking products. Internet banking is now a common mode of secure and convenient banking services. Let us understand the concept of Internet banking.

What is Internet Banking?

Internet Banking, also known as net-banking or online banking, is an electronic payment system that enables the customer of a bank or a financial institution to make financial or non-financial transactions online via the internet. This service gives online access to almost every banking service, traditionally available through a local branch including fund transfers, deposits, and online bill payments to the customers. 

Internet banking can be accessed by any individual who has registered for online banking at the bank, having an active bank account or any financial institution. After registering for online banking facilities, a customer need not visit the bank every time he/she wants to avail a banking service. It is not just convenient but also a secure method of banking. Net banking portals are secured by unique User/Customer IDs and passwords. 

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Special Features of Internet Banking

Here are some of the best features of internet banking:

  • Provides access to financial as well as non-financial banking services
  • Facility to  check bank balance any time
  • Make bill payments and fund transfer to other accounts
  • Keep a check on mortgages, loans, savings a/c linked to the bank account
  • Safe and secure mode of banking
  • Protected with unique ID and password
  • Customers can apply for the issuance of a chequebook
  • Buy general insurance
  • Set-up or cancel automatic recurring payments and standing orders
  • Keep a check on investments linked to the bank account

Services Available through the Internet Banking

Once a customer is registered for online banking, he/she can log-in to the respective online banking portal of his/her bank using the issued User-ID and password.

Services Available on the Internet Banking Portals

Account Balance CheckView Bank StatementsNEFT & RTGS Fund Transfer
IMPS Fund TransferUtility Bill PaymentStart a Deposit
Open/Close a Fixed DepositMake Merchant PaymentsIssuance of Cheque Book
Start InvestmentsBuy General InsuranceRecharge Prepaid Mobile/DTH
Check Mortgages, LoansSet-up/Cancel Automatic PaymentsManage/Change Account Details
Book Online TicketsBuy/Sell on E-Commerce PlatformsInvest and Conduct Trade

Advantages of Internet Banking

Given below are some advantages/benefits of Internet Banking available for all the users-

  • 24×7 Availability: Internet banking, unlike usual banking hours, is not time-bound. It is available 24×7 throughout the year. Most of the services available online are not time-restricted. Users can check their bank balance, account statements and make fund transfers anytime instantly.
  • Convenience of initiating financial transactions: Internet banking is largely preferred because of the convenience that it provides while fund transfer and bill payments. Registered users can use almost all the banking services without having to visit the bank and standing in queues. Financial transactions such as paying bills and transferring funds between accounts can easily be performed anytime as per the convenience of the user.
  • Proper Track of Transactions: Acknowledgement slips are provided by the bank after transactions which have a high possibility of getting misplaced. However, with internet banking, it becomes very easy to track the history of all the transactions initiated by the user. Transactions and fund transfers made online are organised in the ‘Transaction History’ section along with other details such as payee’s name, bank account number, the amount paid, the date and time of payment, and remarks. 
  • Quick and Secure: Net banking users can transfer funds between accounts instantly, especially if the two accounts are held at the same bank. Funds can be transferred via NEFT, RTGS or IMPS as per the user’s convenience. One can also make bill payments, EMI payments, loan and tax payments easily. Moreover, the transactions, as well as the account, are secured with a password and unique User-ID.
  • Non-financial Transactions: Besides fund transfer, internet banking allows the users to avail non-financial services such as balance check, account statement check, application for issuance of cheque book, etc. 

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Types of Fund Transfers using Internet Banking

As we have already discussed, there are three types of fund transfers which can be made using net-banking. Let us understand more-

NEFT

National Electronic Fund Transfer (NEFT) is a payment system which allows one-to-one fund transfer. 

  • Using NEFT, individuals and corporates can transfer funds electronically from any bank branch to any individual or corporate with an account with any other bank branch in the country
  • NEFT service is available 24×7 on internet banking. But, it is a time-restricted service at the bank branch
  • Usually, NEFT transfer is successfully completed within 30 minutes. Nonetheless, the time can even stretch to 2-3 hours or might be completed in just 10 minutes

RTGS

Real-Time Gross Settlement (RTGS) is a continuous settlement of funds individually on an order by order basis. 

  • This payment system ensures that the receiver’s account gets credited with the funds almost immediately and not after a certain duration, as is the case with other payment modes like NEFT
  • RTGS transactions are tracked by the RBI, thereby successful transfers are irreversible. This method is majorly used for large value transfers
  • The minimum amount to be remitted through RTGS is 2 lakh. There is no cap on the maximum amount for transfer via RTGS
  • Like NEFT, RTGS is also available online 24×7

IMPS

Immediate Payment System (IMPS) is another payment method that transfers funds in real-time. 

  • IMPS is used to transfer funds instantly within banks across India via mobile, internet and ATM, which is not only safe but also economical both in financial and non-financial perspectives
  • IMPS is an inexpensive mode of fund transfer. Other fund transfer mediums such as NEFT and RTGS charge significantly higher than IMPS
  • It does not require details like account number, IFSC code, etc. Funds can be transferred via IMPS just with the mobile number of the beneficiary

How to Register for Internet Banking?

Every account holder has to register for an online banking service at his/her respective bank to get access. Most of the banks provide a net-banking log-in kit as and when you apply for a new account. To start using net-banking, follow these steps-

  1. Download the application form from your bank’s official website, fill the same and take out a print. You can also visit the bank directly and fill the application form for net-banking
  2. Submit the application form at the bank
  3. After verification, you will receive a unique User ID and password using which you can log-in to internet banking

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What is E-Banking?

E-banking or Electronic Banking refers to all the forms of banking services and transactions performed through electronic means. It allows individuals, institutions and businesses to access their accounts, transact business, or obtain information on various financial products and services via a public or private network, including the internet.

Popular Types of E-banking Services in India

  • Internet Banking: It is the type of electronic banking service which enables customers to perform several financial and non-financial transactions via the internet. With internet or online banking or net-banking, customers can transfer funds to another bank account, check account balance, view bank statements, pay utility bills, and much more.
  • Mobile Banking: This electronic banking system enables customers to perform financial and non-financial transactions via mobile phone. Most of the banks have launched their mobile banking applications available on Google Playstore and Apple App Store. Just like the net-banking portal, customers can use the mobile application to access banking services.
  • ATM: Automated Teller Machines (ATM) is one of the most popular types of e-banking. ATMs allow customers to withdraw funds, deposit money, change Debit Card PIN, and other banking services. To make use of an ATM, the user must have a password. Banks charge a nominal fee from the customers on every transaction made after crossing the specified limit of free transactions if the transaction is done from any other bank’s ATM.
  • Debit Cards: Almost every person owns a debit card. This card is connected to your bank account and you can go cashless with this card. You can use your debit card for all types of transactions, the transaction amount is debited from your account instantly. 
  • Deposit and Withdraws (Direct): This service under e-banking offers the customer a facility to approve paychecks regularly to the account. The customer can give the bank an authority to deduct funds from his/her account to pay bills, instalments of any kind, insurance payments, and many more.
  • Pay by Phone Systems: This service allows the customer to contact his/her bank to request them for any bill payment or to transfer funds to some other account.
  • Point-of-Sale Transfer Terminals: This service allows customers to pay for the purchase through a debit/credit card instantly.

Services Provided through E-banking in India

Telephone BankingATMs (Automated Teller Machines)
Electronic Clearing CardsMobile Banking
Door-step BankingBill Payment
ShoppingSmart Cards
Funds TransferInternet Banking
Electronic Funds Transfer SystemElectronic Clearing Services
TelebankingInvesting
Fixed DepositsInsurance

Comparison between Internet Banking and E-Banking

Internet banking and Electronic banking are often confused with each other. Let us compare the two for better understanding:

Definition

Internet banking or online banking or net-banking is a digital payment system which enables customers of a bank or a financial institution to make financial or non-financial transactions online via the internet. On the other hand, E-banking or Electronic Banking refers to all the forms of banking services and transactions performed through electronic means. 

Electronic banking or E-banking is a broad category of accessing banking services via electronic means, whereas Internet banking is a part or type of electronic banking. It is also known as electronic funds transfer (EFT) and uses electronic means to transfer funds directly from one account to another. 

Types of Services

With internet banking, customers can obtain every banking service, traditionally available through a local branch including fund transfers, deposits, and online bill payments to the customers. 

Electronic banking includes various transaction services such as internet banking, mobile banking, telebanking, ATMs, debit cards, and credit cards. Internet banking is one of the latest additions to electronic banking.

Frequently Asked Questions

How can I use internet banking?
To use internet banking, you must have an operating account in any bank or a financial institution. You need to register for online banking at the bank to obtain a unique ID and password. For that, you can download the net-banking application form from your bank’s net-banking website or visit the bank and fill in the form.

Can I change my internet banking password?
After logging in to the net-banking portal for the first time, all the users must change the password which is issued by the bank. Also, you should change your password at least once every two months.

What precautions should be taken while using internet banking?
While using internet banking, you must make sure of a few things-

  1. Avoid using public Wi-Fi or use a VPN software
  2. Use a genuine anti-virus software
  3. Make sure the operating system of your smartphone or device is updated
  4. Change your login password at least once in two months
  5. Avoid logging in to your net-banking portal via mailers
  6. Do not use public computers to log in to the net-banking portal

What is user ID in net-banking?
Most of the banks provide internet banking ID and password as and when you apply for a new account. If you haven’t received your user ID and password, you need to apply for net-banking at the bank by filling and submitting an application form. After verification, you will receive a unique user ID and password to login to net banking.

Are electronic banking and internet banking the same?
No, electronic banking and internet banking are often confused with each other. However, these are two different services launched by the bank. Electronic banking is a broad term or category which includes various forms of banking services and transactions performed through electronic means such as internet banking, mobile banking, telebanking, ATMs, debit cards, and credit cards. Internet banking is one of the latest additions to electronic banking. Thereby, internet banking is a part of electronic banking.

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